Mar 2014
Change in number of shares and votes in Shelton Petroleum

In March 2014 the number of B shares in Shelton Petroleum AB changed. A total number of 4,422,841 B shares were issued to those shareholders of Petrogrand AB that accepted Shelton Petroleum’s public offer.

Following the issue of shares, the total number of B shares amounts to 16,415,349. The total number of A shares remains unchanged, 170,580. The total number of votes amounts to 18,121,149. The share capital has increased by SEK 22,114,205 and amounts to SEK 82,929,645. This announcement is made following the registration of the conversion at the Swedish Companies Registration Office.

For more information, please contact:

Robert Karlsson, CEO, Shelton Petroleum, tel +46 709 565141 robert.karlsson@sheltonpetroleum.com www.sheltonpetroleum.com

About Shelton Petroleum

Shelton Petroleum is a Swedish company focused on exploring and developing concessions in Russia and the resource-rich basins of Ukraine. In Russia, the company holds three licenses in the Volga-Urals area in Bashkiria and has commenced production on the Rustamovskoye field after a successful exploration program. In Ukraine, Shelton Petroleum’s wholly owned subsidiary has a joint venture with Ukrnafta and Chornomornaftogaz, two leading Ukrainian oil and gas companies. The Shelton Petroleum share is traded on NASDAQ OMX Stockholm under the symbol SHEL B.

The information provided herein is such that Shelton Petroleum AB is obligated to disclose it pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 8:00 on 31 March 2014.